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Worldfocus

News/Business. Daljit Dhaliwal. (2010) (CC) (Stereo)

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China 27, United States 6, Beijing 5, Haiti 5, Us 4, U.s. 3, George Mitchell 2, Melissa Khan 2, U.n. 2, Daniel 2, Obama 2, Afghanistan 2, Europe 2, Marcus Mabry 2, Israel 2, Pakistan 2, Port-au-prince 2, Mitchell 1, Daniel Levy 1, Perez 1,
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  WHUT    Worldfocus    News/Business. Daljit  
   Dhaliwal.  (2010)  (CC) (Stereo)  

    January 21, 2010
    7:00 - 7:22pm EST  

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tonight on "worldfocus" -- >> new numbers show china's economy growing faster than expected and on the verge of replacing japan as the second largest in the world. could china's boom go bust? china's coming to the rescue of many haitians. we look at their growing humanitarian role. in the aftermath of haiti's devastating earthquake, we follow one family's quest to bury a loved one with dignity. pandemonium in shanghai. how could we resist one look at this. from the different perspectives of reporters and analysts around the world. this is worldfocus. major support has been provided by rosalind p. walter and the peter g. peterson foundation, dedicated to
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promoting fiscal responsibility and addressing key economic challenges facing america's future. and additional funding is provided by the following supporters -- good evening, i'm martin savidge, thanks for joining us. we're going to shift gears tonight and return to a subject the world was focussed on for much of last year, the global economy. the world bank is out with its predictions for the next year. on one hand the world says the economic crisis is largely over and the global economy will reverse course and return to growth this year by 2.7% overall. but there we also some warnings, growth will probably slowdown later this year as the effects of stimulus spending decrease. and for china, there are signs of bubbles in that frenzied economy. china reported growth of 8.7%
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for 2009, and staggering growth of 10.7% in the last quarter. we start with the prospective from beijing where melissa khan of beijing looked behind the numbers. >> reporter: china has said it would achieve 8% growth this year, and in fact it has achieved 8% growth. once the target was set, failure was simply not an option. the country has not missed a single gdp target this entire decade. the growth has been driven by successful financial stimulus, and the country's growing consumer class. but many analysts aren't convinced by the numbers. >> part of it is, yes, there was fudging of numbers. but it's difficult to get good data for a country that's changing as quickly as china. >> reporter: in china, government spending, for example, a police station buys a car, counts as general consumer spending. which means strong numbers may not say much about the state of the economy. some worry the chine strategy
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is not sustainable and the economy will face problems in 2010. >> all of these companies that are profitable only because of the interest rate subsidy lose those subsidies and they start losing money. >> reporter: in such a big country where the economic divide between rich and poor can be enormous, big numbers may not tell you much. china has a long way to go before it will catch up with the per capita income of the united states. what's the best gauge of the economy may well be what you'll see on the ground. in beijing, the financial crisis has been a story they've read in the papers. people worried earlier this year, there are a lot of signs that at least in this corner, things are okay. it builds confidence, especially when so many other countries are suffering from a recession. but the government says 8% is the minimum needed to keep this economy going. there's a belief that the most
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terrible times are over, which means the targets set for 2010 may well be even higher. melissa khan al jazeera, beijing. a few other economic items tonight. the u.s. labor department indicated the number ofuv americans filing for unemployment benefits increased by an unexpected 36,000 last month to 482,000. in europe, lloyd's banking group said it will cut another 585 jobs next year, on top of the already 15,000 reported job cuts last year. general motors said today it will cut more than 8,300 more jobs across europe in its opal subsidiary. gm will close this opal factory u 2600 workers. the company cited the fact that fewer cars are being sold because of the recession. to take a closer look at china's growth and the state of the economy, we're joined by marcus mabry, the international business editor at "the new york times."
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welcome back. >> good to be here. >> cna reported explos growth, and the analysts are questioning, is this really economic growth or is it happening as a result of the stimulus program that china put in place, much like the u.s. did here? >> it's probably both. it certainly is real growth. is the order of magnitude that the chinese numbers are showing true. in the past we haven't seen the same checks an bats they do in the u.s. the problem is, they're half a trillion dollars in stimulus has moved much more directly to their economy than in the u.s. u.s. banks have held a lot of money to get into them. whereas in china, they have directed the lenders to lenned that money out to businesses and individuals out in their economy. that's had the effect of a tremendous amount of growth in china, growth you have not seen in the united states.
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>> the perception is there's a bubble, is that a problem. >> there may be a bubble. we did a piece last week where the investor is committed to the grej in china. you never know about bubbles until it's too late. that's when you say things are overvalued. bubbles are also a very regular part of the american cycle. you have, suddenly -- you flood the market with money, that money is used to inflate values, maybe more than the underlying assets are worth, and then you pull back, you try your monetary -- >> do you think china is aware there could be this growing bubble and trying to figure out what to do about it? >> well, the chinese government walks a tightrope. you want to make sure you have enough stimulus in your economy so you don't have a recession. you don't want so much money in your economy, money to be so cheap th you inflate bubbles through the the economy.
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china made the decision that they wanted to have the risk of bubbles, the risk of inflation by keeping their economy they've been successful with that. we'll see if they can contue with that. more importantly, hurting the global economy. >> i was going to ask, what would that mean for us. >> china's economic growth is the engine keeping the economic economy growing right now. china's that engine, and in the space of a few decades, china will be a larger economy. this is the -- these numbers underline the fact that china has risen to economic preeminence. >> i want to talk about two indicators in this country. there have been reports about freight traffic in this country slowing, and unemployment claims rising. what does that mean? are we headed for a double dip? >> this is the fear of a double dip recession of the united states. the world bank saying there's fear of a risk of a global double dip, a global recession happening again this year.ñ÷óc ironically, it's all going to come down to china. the engine for global economic growth. probably as important at this point as in the united states,
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and in a few years, the engine will be more important for the united states. >> we'll continue to follow it here, thanks to your expertise. marcus mabry, a pleasure. >> thank you. >> that's the global perspective on the economy, now we'd like to hear from you. tonight's question, what is your own sense of the economy, where is it headed at the beginning of this new year? you can give us your opinion by going to the how you see it section of our website to be found at worldfocus.org. one more note about china, secretary of state hillary clinton today urged china to investigate computer hacking incidents that led to google's threat to pull out of china. it was part of a broader speech on internet freedom. there has been a spike in threats to the free flow of information over the last year, singling out china, indonesia and uzbekistan. for increasing sensorship on the web.
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nine days after the earthquake in haiti, at least part of the harbor of port-au-prince has been reopened. and the military is using a second airport in the neighboring dominin republic to try to deliver aid. but reef workers say that help is slow getting to those who need it. and people are still dying from untreated injuries. medical supplies are coming into haiti, aid workers say they need more, one group doctors without borders say its clinics have a backlog of up to 12 days. scattered looting continues in port-au-prince. people are taking what's left out of shattered buildings. stephan buckenheimer described the aid inhe capital. >> the aid has not reached as many people in port-au-prince -- specifically meaning water and food. you can just guess it will take even a longer time for the people in the out of reach here to benefit from those
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deliveries. >> dozens of countries, of course, are contributing to the relief effort with funding and manpower. tonight we want to show you how the english language service of china's state television reported on that country's efforts in haiti. >> the crew assembles for another mission to look for signs of life. after ensuring there were no survivors at u.n. headquarter debris. they had to care for one of the worst in the area of the massive earthquake. facing rigorous working conditions and possible aftershocks, they reached the side of a collapsed morgue. seven days since the disaster, the chinese team is the first to help. >> local civilians told us people are buried inside, we're trying to find evidence of life. >> although the golden time to find survivors has passed. china's rescuers are doing what they can in hopes of a miracle. they use life detectors and
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snake eye cameras and dogs from beijing also help. after searching for half an hour, no miracles and no signs of life. the time that has passed and the hot weather decreases the chances of finding anyone. rescuers say they will continue to keep. >> we expanded our search and looked in many places. we're working more closely with rescuers and peacekeepers from other countries in the process. >> the chinese rescue team searched 23 cap side in the country. they pulled 15 bodies out of the rubble. ey have also found an additional 12 bodies while working with other international teams. the chinese team will keep in touch with a u.n. coordinating center for rescue assignments, its next step is to concentrate on regions, where the chances of
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finding survivors is too high. >> many victims of the earthquake as you heard are being buried in mass graves, with as many as 10,000 being buried in a single day. so anonymous, so impersonal. so undignified. that's why we were struck by this next story. a proper burial for one man. >> in haiti, a widespread religious belief is that the dead continue living and families must forever stay connected to their ancestors. funeral rights are among the most sacred of all ceremonies. since the earthquake, government dump trucks have been dumping off bodies in mass graves like these. the family of flotare august is making sure their deceased loved one does not disappear into an anonymous mass grave.
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>> the rest of august's family survived the earthquake. they brought his body to the morgue, but it was overflowing with the dead. the morgue sent him to this funeral home, but it embalming fluid and has no electricity to refrigerate the bodies. the family picks up his body and loads it into the back of a truck. ♪ >> they drive way up into the hills, they pass around a bottle
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of rum, then lay it on august's body. the road becomes steep, everyone gets out and walks to take weight off the struggling truck. nd tired from a lack of food and water, august's family tredges up the hill anyway, joined by a growing procession of mourners. when they finally arrive at the top of the hill, august's family and friends pour rubbing alcohol on their hands before handling the body. they carry august 100 yards off the road to a small cemetery tucked on a hillside.
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>> the last of the rum is poured into the grave with flotare august. some other news from around the world, robert gates made an unannounced visito pakistan today. he met with the prime minister after writing in a newspaper article that pakistan li afghanistan needs to keep up the pressure of taliban militants in
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the border region. despite that, pakistan's army said today it cannot launch any new offensives against militants for six months to a year. in afghanistan, the associated press reports that the top american commander, general stanley mcchrystal plans to cut back on night military raids. the move is aimed at addressing anger in afghanistan over civilian deaths. in the middle east, the special american envoy to the nation laú restart peace negotiations between israel and the palestinians. george mitchell met with president perez and other top officials. this latest effort comes after president obama admitted his administration overestimated its ability to persuade the two sides to resume talks when their politics ran contry to that.
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that brings us to our continuing series, obama and the world. it's been a year since the president took office. though he named former senator mitchell as special envoy to the region, little progress seems to have been made in the peace process. to discuss the situation there in much more detail, we're joined by daniel levy and amja nutalla. the codirectors of the middle east task force at the new america foundation. gentlemen, thanks for being with us. >> it's nice to be here. >> just to ask, if you would remind us, what has the obama administration done in the past year to try to move the peace process forward. daniel? >> we had engagement right from the beginning on day one, including with syria, which was something new. we had a special envoy appointed, senator george mitchell. the president gave a very
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important speech in cairo. the administration made this a priority, and perhaps most importantly, they articulated a position which understood that middle east peace resolving israel, palestine is central to american strategic interts because they appreciate the impact this has on everything else america is trying to do on the region. because of the resonance, the iconoclaic status of the administration. they went about incredibly orthodoxed ways trying to do things that failed for more than a decade and trying to do them better. >> basically, why have things not worked out better given all of this? >> i think daniel put his finger on it. they ar tickk articulated a new position, they didn't implement a new policy.
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the problem was, they created all these new expectations based on the articulation of this brand new vision that was very very proamerican, very very american centric and american focused which is exactly what it needed to be. then they began to try to implement the bu administration era policy on the issue, and the two big places where they didn't try to make any changes at all, but they needed to were -- one was on the question of the isle of negotiations. the second part of it was gaza. the bush administration had worked very hard to separate the west bank from the gaza strip politically, and to isolate gaza into a implemented siege on gaza. president obama articulated ju$e policy and it needed to change. in one year's time, we haven't been able to see any change on those two fronts. >> there's a speculation out here in the realm of news that recently these peace talks were going to resume. i'm wondering, have either of you heard that? do you believe it?
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>> there is certainly a lot of speculation in the region, here in the united states. about an effort that's been
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they did a number of things, there was the arab peace initiative which was huge. crown prince abdullah travelled to crawford and had a picture book with him, in which he sat with president bush and showed him pictures of the occupied palestinian territory. there were a number of attempts to get the administration to free palestine before he went to war with iraq. with president obama they thought they had everything they needed.
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president obama articulated the end goals they wanted. they assumed the united states was going to be handling this, and they effectively sat back. when obama asked them to do the things that bush asked them to do, they rejected it, they refused. but now they haven't been able to articulate what they want to do instead. they're confused as to how to respond to the administration